Chip startup SiMa.ai raises $70M in funding led by Maverick Capital, others

Silicon Valley-based SiMa.ai, a software-centric, embedded edge machine learning system-on-chip startup, has raised $70 million in its latest funding round.

The round saw participation from new investors like Maverick Capital and Point72, alongside continued support from existing backers such as Amplify Partners and Dell Technologies Capital.

The total funds raised by the startup now stand at $270 million. The startup plans to use the raised capital to fuel the ongoing demand for its first-generation Machine Learning System-on-Chip (MLSoC) and expedite the launch of its next-gen MLSoC, which is set for release in the first quarter of 2025.

Unveiling a unified platform for Edge AI

With its second-generation MLSoC, SiMa.ai is set to introduce a unified, software-centric platform designed to cater to all edge AI applications. The startup said that it promises scalability, accommodating the evolving AI/ML requirements of customers, ranging from computer vision to advanced multimodal generative AI.

It aims to streamline the integration of AI/ML technologies into various edge devices like drones, robots, and autonomous vehicles, enhancing their capabilities to process complex multimodal inputs.

The Edge AI revolution

Krishna Rangasayee, the founder and CEO of SiMa.ai, emphasized the transformative impact of generative AI on human-machine collaboration. He said SiMa.ai's upcoming generation of MLSoC is crafted to augment edge devices with advanced capabilities in sight, sound, and speech. 

"We have established undeniable technology leadership with our first generation MLSoC and, with that momentum, also recognised the imminent need to equip our customers with one software-centric platform that supports all modalities from computer vision to GenAI. To that end, we’re accelerating our ability to execute and have strengthened our investor base even further with the addition of Maverick Capital, Point72 and others, as we remain laser-focused on powering the edge the world relies on," said Rangasayee.

Partnership with industry leaders 

SiMa.ai has partnered with industry leaders such as Arm, Synopsys, and TSMC. The startup said that these partnerships have been pivotal in incorporating state-of-the-art components and technologies into SiMa.ai's offerings.

“The computational intensity of generative AI has precipitated a paradigm shift in data centre architecture. The next phase in this evolution will be the widespread adoption of AI at the edge. Just as the data centre has been revolutionised, the edge computing landscape is poised for a complete transformation," said Andrew Homan, Senior MD, Maverick Capital.

"SiMa.ai possesses the essential trifecta of a best-in-class team, cutting-edge technology, and forward momentum, positioning it as a key player for customers traversing this tectonic shift. We’re excited to join forces with SiMa.ai to seize this once-in-a-generation opportunity," Homan added.